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Source: SSRN - Social Science Research Network (SSRN
Resulting in 4 citations.
1. Daniels, Gerald
Smythe, Andria C.
Student Debt and Labor Market Outcomes
Working Paper, Social Science Research Network, March 2018.
Also: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3052040
Cohort(s): NLSY97
Publisher: Social Science Electronic Publishing, Inc.
Keyword(s): Debt/Borrowing; Income; Labor Market Outcomes; Student Loans

Permission to reprint the abstract has not been received from the publisher.

We study the impact of student debt on various labor market outcomes, namely, labor market income, hourly wages, hours worked, probability of being employed and probability of full-time employment. Using data from the NLSY97 surveys and a difference in difference approach, we find statistically significant differences in labor market outcomes for individuals who received a student loan versus those who received no student loan. Our findings are that the difference in income during versus after college enrollment is 8-9 percent higher for student debt holders when compared to individuals with no student debt. We find evidence that this higher income among student loan holders is due to higher work hours rather than higher wage rates. We also find that the difference in full-time employment during versus after college enrollment is 5 percent higher for student-debt holders when compared to students with no debt. [Also presented at Atlanta GA, American Economic Association Annual Meeting, January 2019]
Bibliography Citation
Daniels, Gerald and Andria C. Smythe. "Student Debt and Labor Market Outcomes." Working Paper, Social Science Research Network, March 2018.
2. Jiang, Danling
Lim, Sonya S.
Trust, Consumer Debt, and Household Finance
Working Paper, Social Science Research Network, June 2013
Cohort(s): NLSY79
Publisher: Social Science Electronic Publishing, Inc.
Keyword(s): Debt/Borrowing; Financial Behaviors/Decisions; Trust

Permission to reprint the abstract has not been received from the publisher.

Using a large sample of U.S. individuals, we show that trust is an important determinant of an array of household financial decisions and outcomes including debt management. Individuals with a higher level of trust are less likely to be in debt, miss payments, file bankruptcy, or go through foreclosure. Their households have lower financial leverage, higher retirement savings and assets, and greater net worth. We show a causal impact of trust on financial outcomes by extracting the component of trust correlated with an individual's early life experiences, and also by purging out the component of trust correlated with prior economic success. The effect of trust channels through the beliefs formed in response to the trustworthiness of people one deals with, as well as through personal values of trust and trustworthiness rooted in the family and cultural background. Trust has a more pronounced effect among females and those who have lower education or income. Our further evidence suggests that enhancing individuals' trust, and to the right amount, can improve household financial well-being.
Bibliography Citation
Jiang, Danling and Sonya S. Lim. "Trust, Consumer Debt, and Household Finance." Working Paper, Social Science Research Network, June 2013.
3. Ringo, Daniel
Home Ownership As a Labor Market Friction
Working Paper, Social Science Research Network (SSRN), March 17, 2017.
Also: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3144673
Cohort(s): NLSY79
Publisher: Social Science Electronic Publishing, Inc.
Keyword(s): Geocoded Data; Home Ownership; Mobility; Parental Influences; Unemployment Duration; Unemployment Rate, Regional

Permission to reprint the abstract has not been received from the publisher.

This paper estimates the effect of home ownership on individuals' unemployment. Because of higher moving costs, home owners will be less willing than renters to relocate for work and could therefore face longer unemployment spells. Estimation is complicated by the endogeneity of ownership, as owners will have different abilities, preferences and job prospects than renters. I instrument for home ownership using a preference shifter from the worker's childhood environment. The results indicate that home ownership is a significant hindrance to mobility, and homeowners suffer longer unemployment spells and more frequent job loss because of it.
Bibliography Citation
Ringo, Daniel. "Home Ownership As a Labor Market Friction." Working Paper, Social Science Research Network (SSRN), March 17, 2017.
4. Thompson, Owen
The Effect of Income on Health: Evidence from New Health Measures in the NLSY
Working Paper, Social Science Research Network, January 2012.
Also: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1987728
Cohort(s): NLSY79
Publisher: Social Science Electronic Publishing, Inc.
Keyword(s): Health Factors; Health/Health Status/SF-12 Scale; Income; Modeling, Fixed Effects; Obesity

Permission to reprint the abstract has not been received from the publisher.

While it is well known that income and health are positively associated, the critical question of whether this relationship is causal remains open. Income may cause better health, but causality could also run from health to income, or both income and health could be correlated with one or more unobserved variables. This paper attempts to overcome these problems by systematically exploiting features of the National Longitudinal Survey of Youth, which recently added several important health measures. To account for reverse-causality, I reason that health effects income mainly by limiting labor force activities, and focus on a subpopulation that has never reported a health related work limitation. To account for omitted variables, I estimate sibling fixed-effects models to control for childhood conditions and genetic background, and include direct controls for discount rates, risk aversion and cognitive ability. I find that income has a significant causal effect on physical health and obesity, but not on mental health, smoking or heavy drinking. My preferred models predict that an individual with a permanent income of $70,000 is approximately 10% less likely to be obese than if they had a permanent income of $30,000, and reports physical health that is .25 standard deviations more favorable.
Bibliography Citation
Thompson, Owen. "The Effect of Income on Health: Evidence from New Health Measures in the NLSY." Working Paper, Social Science Research Network, January 2012.